A round-up of today's other business stories in brief
AIB reduces some fixed mortgage rates
AIB has reduced its two- and three-year fixed mortgage rates, following similar moves by the EBS Building Society, the IIB Bank and the Bank of Ireland.
The bank's two-year rate is falling by 0.55 of a percentage point to 5.2 per cent, while the three-year rate has been cut by a 0.25 of a point to 5.2 per cent.
The bank said that while the mortgage market was down on last year, demand for mortgages rose in the second quarter compared with the first three months of the year.
US agency warns on prescribing instructions for Elan drug Tysabri
Prescribing instructions for Elan's and Biogen's drug Tysabri should note cases of a serious brain infection in patients using it as their sole treatment for multiple sclerosis, US health regulators said yesterday.
The Food and Drug Administration said it was working to amend the Tysabri label after two cases of the potentially fatal brain infection, progressive multifocal leukoencephalopathy (PML), were reported in Europe. The companies disclosed the cases in July.
Biogen spokeswoman Shannon Altimari said changes would be made to an existing black box warning on Tysabri and elsewhere on the drugs label. Elan officials could not be immediately reached for comment. - (Reuters) -
CNP rebranding as The Building Company
Project manager CNP Ireland is rebranding as The Building Consultancy.
Early this year, management, headed by Alan Baldwin, bought the business from its UK parent. Yesterday, Mr Baldwin said the company and its clients felt rebranding was necessary following this move.
As a result, it is rebranding itself as The Building Consultancy from September 1st.
The firm specialises in project management, building surveys, design and fit-outs.
FBD Holdings shareholders in waiver appeal
Shareholders of insurance company FBD Holdings will be asked at an egm this afternoon to accept a waiver from the Irish Takeover Panel that will allow its major shareholder, Farmer Business Developments, and related parties avoid making a takeover bid for the company.
The shareholding held by Farmer Business Developments and related parties in the insurance company increased to just over 30 per cent as a result of the firm's share buy-backs.
